The Indian Wire » Business » Indian Crypto Exchange WazirX’s 55% Of Sign Ups From Tier-II, III Cities

Indian Crypto Exchange WazirX’s 55% Of Sign Ups From Tier-II, III Cities


India’s largest cryptocurrency exchange, WazirX has noted that users from Tier II and Tier-III cities of India are signing up to its platform, thus noticing the growth of 2648% in Userbase. The exchange claims that more than 7.3 million users have registered to its platform. And, they have logged over $21.8 billion in trading volume in 2021 to date.

The observations are drawn from a report generated by payments gateway firm Razorpay. In 2021, WazirX’s almost 55% of the traffic of total sign-ups of users are generating from tier-II and tier-III, surpassing tier-I cities that composed of total sign-up growth of 2,375 per cent.
WazirX in a statement said the inundation of cheaper and faster internet combined with economical smartphone prices have increased the internet penetration in the semi-urban cities and rural towns of India.

“Coupled with the pandemic-induced lockdown, it has further accelerated the digital adoption in these regions.
“Moreover, it has also been the biggest driver of crypto adoption in India, as it has led to people trying to find new ways to earn online and diversify their portfolio,” the statement said.

WazirX has shown an average increase of 2,950 per cent in Tier-II cities like Ahmedabad, Lucknow, and Patna, and 2,455 per cent in Tier III cities like Ranchi, Imphal, and Mohali, according to the statement.

Based out of Mumbai, Nischal Shetty founded this company in 2018. WazirX is India’s largest cryptocurrency exchange that facilitates a trading platform for cryptocurrencies, via its website and app. Here, you can buy, sell or trade cryptos like BTC, XRP, ETH, TRX et cetera. 

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Harshita Sharma

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